We can study the flooring industry by seeing some impact on the hardwood market. The number of production of strip flooring has gone 100 years back. Major historic events and other factors have made an impact on buying efficiency of customers. The flooring industry has plummeted to a great low in 3 cycles. But it has risen again as the customer found the hardwood as a tremendous flooring option.
Hardwood & Flooring History
There was a steep increase in demand of hardwood floor from 34 million bd. ft. in 1907 to 568 million in 1928. But unfortunately the stock market crashed and it made the hardwood flooring industry its prey. The demand sank deep to the level of 108 million bd.ft. in the year 1934. by 1941 the market of hardwood flooring expanded once again and it reached the notable mark of demand of 544 million bd.ft. But unfortunately, the world war II made another halt on the market of hardwood floor and it again plummeted to the low of 186 million bd. ft. by 1944.
When the world war II finished there was once again a huge demand which touched the peak of 1.207 billion bd. ft. by the year 1955. There was a very common occurrence of hardwood floor in houses. It recovered from the devastation of world war II. The demand maintained its increase by the mid of 1960.
After 1960 the third calamity came which affected the market of hardwood floors once again. It was a rather dramatic event. There was an option to have carpet had the lifespan of 5 or 10 years. Being cheaper than hardwood flooring in terms of a wall to wall carpeting, the carpet emerged as a trend of fashion and the favorite as the covering of floor. This dramatic incident lowered the market of hardwood floor amazingly.
The demand fell down to 320 million bd.ft by the year 1971. Another downfall came the year 1975 in which the hardwood market plunged to the low of 99 million bd. ft.
The hardwood market was struggling to survive and yet the deep recession in the early 1980s forced the hardwood market to fall down to the low the 75 million bd. ft. in the year 1982.